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As we close the books on 2017, it’s clear it’s been an eventful year for our economy and for banking.

Despite beginning the year in a cloud of uncertainty, our domestic economy has shown numerous signs of optimism and strong momentum for continued growth. U.S. consumer confidence is at a 17-year high and a wave of optimism is washing over the banking industry, driven by a growing belief that some form of deregulation and tax reform will come to fruition in Washington in the year ahead.

Bipartisan legislation would more than quadruple the current $50 billion-dollar threshold for a SIFI bank to $250 billion and revise many parts of the 2010 overhaul, specifically those pertaining to small and regional banks. It would also free small to midsize lenders from some of the strictest post-crisis oversight and cut compliance costs for community banks.

As I’ve said numerous times, restructuring banking’s one-size fits all regulation and easing the burden on banks that pose less risk will support stronger economic growth.

Tax Reform Will Unlock Growth

With the largest tax reform this generation has seen in the works, we can expect new opportunities for growth. The legislation as it currently stands would substantially reduce burdens on businesses of all sizes. Banks today pay one of highest tax rates, and the proposed reforms would free up an enormous amount of capital that will ultimately be put back into economy.

Beyond the banking industry, any business paying taxes will have fresh capital to redeploy into innovative technologies and business expansion. Faster GDP growth will be possible.

The Pace of Fintech Disruption Will Continue to Evolve Banking

In 2017, we saw banks continue to invest in digital solutions and rethink their brick and mortar strategies. One thing is for sure, how a bank operates will continue to change over the next year.

In the past 12 months, we have seen fintech providers moving from potential threats to natural partners, but as 2018 dawns, there has never been a more important time for banks to fully embrace the advantages that fintech provides. From cloud banking, to new payment solutions such as Zelle and the emergence of Blockchain, these solutions ultimately allow bankers to focus on removing friction and building relationships that drive customer satisfaction and loyalty.

Artificial intelligence capabilities go hand in hand with fintech as another key trend on the horizon. AI technology is poised to shake up how banks undertake financial due diligence, leveraging data mining, text analysis, and machine learning to uncover potential fraud from analyzing vast amounts of data.

Banks are also experimenting with how AI-enabled functionality such as chat bots and predictive learning can increase customer satisfaction while increasing operational efficiency and creating growth opportunities.

The key question for community banks in 2018 remains determining what resources will provide a seamless blend of speed, convenience and security, enabling scalability that spurs growth and customer satisfaction while leveling the playing field against larger institutions.